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Sales Results for the Austin Texas MLS Real Estate SOLD
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All Single Family Sales
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# of ALL Active Listings
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Single Family Median Price
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2008
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2007
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2006
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2008
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2007
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2006
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2008
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2007
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2006
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January
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1321
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1452
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1543
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8727
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6956
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7143
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$185,400
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$175,000
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$166,050
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February
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1553
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1714
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1690
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9127
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7212
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7377
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$180,600
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$176,000
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$169,000
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March
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2021
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2343
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2313
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9638
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7776
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7811
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$188,080
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$177,000
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$167,000
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April
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2144
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2313
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2172
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10034
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8354
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8123
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$187,900
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$185,000
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$174,000
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May
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2393
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2679
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2616
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10577
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8821
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8172
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$194,700
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$183,160
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$174,480
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June
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2800
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2993
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9159
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8477
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$191,000
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$179,000
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July
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2645
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2721
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9451
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8368
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$190,000
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$178,190
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August
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2501
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2805
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9819
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8137
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$192,200
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$182,500
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September
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1824
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2341
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9979
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8203
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$182,500
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$167,000
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October
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1772
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2073
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9840
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7947
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$183,000
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$175,000
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November
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1658
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1902
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8069
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7354
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$184,500
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$175,000
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December
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1655
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1996
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8279
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6852
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$191,250
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$177,500
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Austin Real Estate sales have slowed down compared to the last 2 years - but Austin area Home Sales continue to be a national leader in real estate median price sales growth; especially Round Rock Real Estate - and the time to buy is now! The Cedar Park, Austin, Georgetown TX and Round Rock real estate markets were NOT drastically affected by the bad national real estate sales - but the tightening of credit and mortgage financing has hurt the overall sales (see above.) Most knowledgeable economists attribute Austin's slower home sales PRIMARILY due to the tighening credit markets and harder to qualify new mortgage loan requirements. Austin new home builders are NOT massively over built like Las Vegas, California, Florida and Phoenix - and the new home market continues to shine on Cedar Park, Round Rock TX, Georgetown and Leander real estate market areas.
While inventory of existing Cedar Park, Round Rock and Austin home sales increases, the Average Days On The Market is still just over 2 months - which is another excellent example of the strength and popularity of the overall Austin real estate market. The biggest PROBLEM for the Austin housing market currently is the difficulty getting mortgage financing for first-time home buyers and those who have credit issues or who need stated-income loans (which are now gone.) Compare May 2008 to May 2007 - you'll see median home prices rising dramatically at a 6.3% increase. Medain price means half of the homes sell above this and half sell below that price. Many $0 Down loans are STILL AVAILABLE for move-up buyers and first-time home buyers if you've got credit scores above 680. For more information please see our home page.
Foreclosures are not affecting most neighborhoods selling above $250,000, yet can be a factor in many lower priced home areas around the Austin real estate market. The Austin area does not have a foreclosure problem like many U.S. cities. Austin foreclosures are lower due to a much stronger job market, as most foreclosures are typically associated with a job loss causing the foreclosure and 40% of all foreclosures occur from new home builders home sales.
Check out the Georgetown TX Real Estate market if you desire a more small town feel, and you'll notice Georgetown TX homes for sale remain very popular with buyers - helping that market to continue to sell well. Georgetown's population of 48,000 is expected to DOUBLE by 2015 - in just 7 more years! The Georgetown ISD is also one of the fastest growing in Texas.
Choose a good Realtor to represent your legal and financial needs - and you'll see the true benefit of working with a professional Realtor. Call me at (512) 289-9900 or email me your home buying scenario or situation below.
Thanks,
Jeff Boyce
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